Interview: Omar Alieu Touray
How would you evaluate the transition towards a digital economy across ECOWAS member states?
OMAN ALIEU TOURAY: The Fourth Industrial Revolution has provided an opportunity for ECOWAS member states to leverage technology to augment employment, productivity, competitiveness and development. Our member states have adopted policies to promote digital entrepreneurship and innovation, and several ECOWAS member states have strategies to foster a vibrant digital ecosystem.
We organised the ECOWAS start-ups summit in November 2021 in Niamey, Niger, to actualise these initiatives at a regional level. The summit was a competition for digital enterprise business plans, with all member states participating. We are developing an accelerator programme for all participants, as well as a regional strategy for start-ups. Additionally, our e-commerce strategy provides a platform for digital enterprises to sell their products in the ECOWAS market.
What reforms are driving improvements in the ease of doing business in the ECOWAS region?
TOURAY: Several ECOWAS member states have implemented policies to improve the business environment in their countries, including the simplification of procedures such as business registration and the payment of taxes, as well as the establishment of special economic zones and technology centres to support start-ups. We are replicating these efforts at the regional level to open the market to investors. Moreover, we have begun establishing cross-border special economic zones, regional payment platforms and joint border posts to enable the free movement of persons and goods.
These developments are buttressed by policies such as common investment laws, competition laws, and special schemes for small and medium-sized enterprises (SMEs) and start-ups. We are working to promote regional stability, peace and security as a precondition for sustainable growth. The ultimate goal is to make ECOWAS the foremost investment destination in Africa.
To what extent does training and digital entrepreneurship contribute to SME growth in ECOWAS?
TOURAY: Digital entrepreneurship is critical for the ECOWAS region, where 70-80% of businesses are SMEs. We have mobilised an integrated regional human capital development strategy to promote digital skills for youth, women and SMEs. We are building on the existing human capital development plans of some member states and supporting the creation of such plans where they do not exist. Digital entrepreneurship can shorten the growth cycle of SMEs, helping them become largescale job creators and narrowing the digital development gap. Moreover, digital skills are a key instrument for developing our large youth population.
We are also targeting micro-, small and medium-sized enterprises (MSMEs) through the ECOWAS MSME Charter, which supports digital entrepreneurship by promoting innovation and biotechnology centres, virtual meetings and online filings for business registration purposes. Additional provisions include the development of a start-up promotion strategy with technology-enhanced funding models such as crowdfunding, mobile money and cryptocurrencies, as well as the organisation of innovation fairs and MSME platforms.
In what ways will the upcoming ECOVISA regime catalyse foreign investment flows to the region?
TOURAY: The ECOVISA will provide foreign investors with access to 15 ECOWAS member states representing a market of over 340m people. A uniform visa regime will contribute to the effective realisation of the objectives of the ECOWAS Common Investment Market, trade liberalisation scheme and, by extension, the African Continental Free Trade Area. Enhancing the ease of travel at ECOWAS borders will signal an increased openness to cross-border investment. Implementation is planned in phases, with the first stage covering holders of service and diplomatic passports, and subsequent phases expanding to cover wider categories of visitors.
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